Oddbean new post about login | logout Funny think is that most people I know supporting merit-based systems, and even voting for Trump, are rent seekers.
Going where the incentives lead in a fiat world will do that to people. I could farm crops, and produce more, but if I just play with the market instead I end up with more food. And just because I know this isn't productive doesn't change the fact that at the end of the day, I'd like more food.